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7 Sep 2020

EU's von der Leyen: I trust UK will implement the Withdrawal Agreement

"I trust the British government to implement the Withdrawal Agreement, an obligation under international law and prerequisite for any future partnership," European Commission President Ursula von der Leyen tweeted out on Monday.

"Protocol on Ireland/Northern Ireland is essential to protect peace and stability on the island & integrity of the single market," von der Leyen added.

Earlier in the day, British Prime Minister Boris Johnson reiterated that if no Brexit deal is reached by October 15 with the EU, "both sides should accept that and move."

Market reaction

These comments failed to help the British pound recover its losses. As of writing, the GBP/USD pair was down 1.02% on the day at 1.3148.

Sep 7, 2020

GBP/USD Price Analysis: Monday’s close pivotal to confirm a rising wedge breakdown

GBP/USD hit fresh weekly lows near 1.3170, as the bears extend control amid intensifying no-deal Brexit concerns. UK Prime Minister (PM) Boris Johnson

German government spokesman: UK must make concessions in Brexit talks

"Germany is convinced that it's still possible to reach a Brexit deal with the UK," a German government spokesman said on Monday, as reported by Reute